Final Award concerning Claimant's Motion to Correct the Final Award of December 20, 2018
The Panel issued a Final Award in this arbitration on December 20, 2018 (SMA #4358), awarding the sum of $184,889,829.50 to Claimant Commodities & Minerals Enterprise Ltd (CME). On January 8, 2019, Counsel for CME, submitted a motion pursuant to Rule 30 of the Society of Maritime Arbitrators Rules to correct certain clerical and/or arithmetical errors in the Final Awards. There has been no response to the motion from Respondent CVG Ferrominera Orinoco, C.A. ("FMO"). Having reviewed the motion and deliberated, the Panel issues the following decision unanimously granting CME's motion in part and denying it in part.
The panel has carefully reviewed the motion and concludes that we misconstrued certain sections of the parties' submissions. As a result, we mistakenly understated the Item 12 credits due to FMO of $176,853.69, as well as a $53,751.92 credit due to FMO for the Chiara D'Amato/Antoine D exclusions. Moreover, the Panel double-counted a credit of $2,176,266.21 due to FMO, as well as a $21,993.75 credit due to FMO for the ICC concession.
Counsel for CME also requested that the panel correct its decision to exclude three invoices "before London arbitrators totaling $302,602.50." However, after examining that issue, we do not agree that any correction is required.
Counsel for CME has also requested that the panel correct the language of two sections of Appendix A which is common to both this and the companion December 20, 2018 MV General Piar award. We confirm that paragraph 365 of Appendix A inadvertently states that Dr. Flores was instructed by CME, when, in fact, Dr. Flores was instructed by FMO. However, we do not agree that paragraphs 494-497 require any corrections and decline to strike them from Appendix A.
In summary, we find that CME is due an additional $2,973,748.94 (including added interest at 12% per annum from April 14, 2014 through December 20, 2018) above the amount of $184,889,829.50 previously awarded CME in the December 20, 2018 award. Accordingly, we hereby correct that award to add that additional amount as due to CME for FMO's breach of the TSMC. The total corrected amount awarded to CME is $187,863,578.44.
If this corrected award for the additional amount of $2,973,748.94 due to CME is not satisfied within 30 days, post-award interest shall run at the rate of 5.50% per annum from December 20, 2018 until the corrected award is fully paid or confirmed and made a judgment of the court.
This final award may be confirmed by the United States District Courts for the Southern Districts of New York and Florida, or any other court which may have jurisdiction. Dated: February 11, 2019
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